Transpac container service closures mount
As spot freight rates on the transpacific trade continue to weaken, the number of service ...
© Jason Row
By Mike Wackett
Yang Ming today posted a net loss of $139m for 2019, as a 4% increase in volumes could not offset losses attributed to new accounting rules.
The Taiwanese carrier’s revenue was also up, by 5% on the previous year, to $4.8bn earned from carryings of 5.4m teu.
It said that without the bookkeeping negative its strategic decision to not exercise its options on the return to owners of 14 “high-cost chartered vessels”, there would have been a $45m improvement to its bottom ...
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